Investment Property located in Dutch Square

Industrial for Sale
Also listed as Office
Catylist Listing ID: 30706091
Property Subtypes: Industrial-Business Park, Light Industrial, Net Leased, Other
Building Size (RSF): 15,300 SF
Gross Land Area: 1.66 Acres
Sale Price: $1,674,844
Unit Price: $109.47 PSF
Property Use Type: Investment
Usable Size (USF): 15,300 SF
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 10/8/2021

Overview / Comments

Excellent 1031 exchange property in the desirable area of Dutch Square. NN lease in place with a strong Regional Tenant with multiple locations in the South East U.S. The property has access to Market Street, Gordon Road, and I-40 with signalized intersections.

This property contains a +/- 15,300 SF freestanding office/warehouse building that was completed renovated in 2019. The building is fully heated other than the +/- 1,800 SF warehouse space. +/-1,625 SF of the building is climate-controlled warehouse/lab space. The remaining portion of the building is +/-11,875 SF of office/open workspace. All on +/- 1.66 acres of highly vegetated land. There are overhead loading doors, a large laydown yard, and convenient parking next to the premises.

Several years left on the lease and two additional renewal options of 5 years each.

NDA agreement is available for lease info. Showing by appointment only.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R04320-001-012-000, R04320-001-013-000
Zoning: I-2, B-2
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Year Renovated: 2019

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,186 57,694 106,769
Median Age: 32.8 35.36 36.63
Households: 2,298 23,880 45,080


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